| | | defer property tax payments that otherwise exceed 6% of income. | | The program must require repayment, with interest, of deferred | | property tax amounts upon transfer of the property. The program | | must provide for securing the property tax payments deferred, | | consider equity in the property and provide for low transaction | | costs and for ease of application for program participants. The | | Maine State Housing Authority shall examine the impact upon | | program participants if market value in the property has declined | | from the time of property tax payment deferral to the time of | | property transfer. The Maine State Housing Authority shall, in | | consultation with Maine Revenue Services, develop and implement | | administrative policies and practices, including but not limited | | to a common application form, to ensure coordination of the | | property tax deferral program established by this section and the | | Maine Residents Property Tax Program established in the Maine | | Revised Statutes, Title 36, chapter 907. The Maine State Housing | | Authority shall report to the joint standing committee of the | | Legislature having jurisdiction over taxation matters by March 1, | | 2005 any legislation necessary to carry out the purpose of this | | section. The committee may subsequently report to the First | | Regular Session of the 122nd Legislature any implementing | | legislation to carry out the purposes of this section. |
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| | | Sec. F-9. Household income eligibility adjustment factor. The household income | | eligibility adjustment factor in the Maine Revised Statutes, | | Title 36, section 6209, subsection 1 may not be applied to Title | | 36, section 6207 for the Maine Residents Property Tax Program | | that begins on August 1, 2005. |
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| | | Sec. F-10. Application. That section of this Part that amends the | | Maine Revised Statutes, Title 36, section 6207, subsection 2 | | applies to applications filed for any Maine Residents Property | | Tax Program beginning on or after August 1, 2005. That section | | of this Part that amends Title 36, section 6209 applies to any | | Maine Residents Property Tax Program beginning on or after August | | 1, 2005, except that the household income eligibility adjustment | | factor in Title 36, section 6209 does not apply to Title 36, | | section 6207 for the Maine Residents Property Tax Program that | | begins on August 1, 2005. |
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| | | Sec. F-11. Effective date. That section of this Part that amends the | | Maine Revised Statutes, Title 36, section 6656 takes effect July | | 1, 2005. |
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| | | Sec. G-1. 30-A MRSA §7102, as enacted by PL 1987, c. 737, Pt. A, §2 | | and Pt. C, §106 and amended by PL 1989, c. 6, c. 9, §2 |
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